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Jeff Cooper: Is the Nasdaq Headed Lower?
Charts show that the index's pattern since March mirrors the four-month interval of the 2008 to 2009 bottom.
Jeffrey Cooper    

This article originally appeared on Jeff Cooper's Daily Market Report. To get Jeff's commentary plus day and swing trading ideas each day, take a FREE 14-day trial to Jeff Cooper's Daily Market Report.

A monthly Nasdaq Composite (INDEXNASDAQ:.IXIC) chart from this morning's Daily Market Report [subscription required] shows a second test of the low of the high bar month from March 2000:

http://image.minyanville.com/assets/buzzbanter/charts/original/070914/NAZ_Chart_from__1404913981.gif
Click to enlarge

There is also a confluence of some interesting geometry. I started with trend line A (green) and paralleled a trend line from the 2010 and 2011 lows, which also ties to the 2002 and 2009 lows.

Trend line A coincides with the March high, suggesting the recent Nasdaq Composite high is a return rally test here in July. The pattern since March mirrors the four-month interval of the 2008 to 2009 bottom. As above, so below? Moreover, the pattern high in 2000 was a March high followed by a return rally into July.

Additionally, last week's 4,478 recovery high on the Nasdaq Composite ties to a possible time-and-price July square-out. Reducing the number to 448 shows that early July is 90 degrees square 448.

See the Square of 9 Chart below:

http://image.minyanville.com/assets/buzzbanter/charts/original/070914/Square_of_9_Cha_1404914035.jpg
Click to enlarge

If you covered up the name and time frame and were told the above chart were a daily chart of a highflier, I suspect most of you would be sellers, recognizing a possible A-B-C retracement to prior highs.

Twitter: @JeffCooperLive
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No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Jeff Cooper: Is the Nasdaq Headed Lower?
Charts show that the index's pattern since March mirrors the four-month interval of the 2008 to 2009 bottom.
Jeffrey Cooper    

This article originally appeared on Jeff Cooper's Daily Market Report. To get Jeff's commentary plus day and swing trading ideas each day, take a FREE 14-day trial to Jeff Cooper's Daily Market Report.

A monthly Nasdaq Composite (INDEXNASDAQ:.IXIC) chart from this morning's Daily Market Report [subscription required] shows a second test of the low of the high bar month from March 2000:

http://image.minyanville.com/assets/buzzbanter/charts/original/070914/NAZ_Chart_from__1404913981.gif
Click to enlarge

There is also a confluence of some interesting geometry. I started with trend line A (green) and paralleled a trend line from the 2010 and 2011 lows, which also ties to the 2002 and 2009 lows.

Trend line A coincides with the March high, suggesting the recent Nasdaq Composite high is a return rally test here in July. The pattern since March mirrors the four-month interval of the 2008 to 2009 bottom. As above, so below? Moreover, the pattern high in 2000 was a March high followed by a return rally into July.

Additionally, last week's 4,478 recovery high on the Nasdaq Composite ties to a possible time-and-price July square-out. Reducing the number to 448 shows that early July is 90 degrees square 448.

See the Square of 9 Chart below:

http://image.minyanville.com/assets/buzzbanter/charts/original/070914/Square_of_9_Cha_1404914035.jpg
Click to enlarge

If you covered up the name and time frame and were told the above chart were a daily chart of a highflier, I suspect most of you would be sellers, recognizing a possible A-B-C retracement to prior highs.

Twitter: @JeffCooperLive
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

More From Jeffrey Cooper
Daily Recap
Jeff Cooper: Is the Nasdaq Headed Lower?
Charts show that the index's pattern since March mirrors the four-month interval of the 2008 to 2009 bottom.
Jeffrey Cooper    

This article originally appeared on Jeff Cooper's Daily Market Report. To get Jeff's commentary plus day and swing trading ideas each day, take a FREE 14-day trial to Jeff Cooper's Daily Market Report.

A monthly Nasdaq Composite (INDEXNASDAQ:.IXIC) chart from this morning's Daily Market Report [subscription required] shows a second test of the low of the high bar month from March 2000:

http://image.minyanville.com/assets/buzzbanter/charts/original/070914/NAZ_Chart_from__1404913981.gif
Click to enlarge

There is also a confluence of some interesting geometry. I started with trend line A (green) and paralleled a trend line from the 2010 and 2011 lows, which also ties to the 2002 and 2009 lows.

Trend line A coincides with the March high, suggesting the recent Nasdaq Composite high is a return rally test here in July. The pattern since March mirrors the four-month interval of the 2008 to 2009 bottom. As above, so below? Moreover, the pattern high in 2000 was a March high followed by a return rally into July.

Additionally, last week's 4,478 recovery high on the Nasdaq Composite ties to a possible time-and-price July square-out. Reducing the number to 448 shows that early July is 90 degrees square 448.

See the Square of 9 Chart below:

http://image.minyanville.com/assets/buzzbanter/charts/original/070914/Square_of_9_Cha_1404914035.jpg
Click to enlarge

If you covered up the name and time frame and were told the above chart were a daily chart of a highflier, I suspect most of you would be sellers, recognizing a possible A-B-C retracement to prior highs.

Twitter: @JeffCooperLive
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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